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Sunnyside Co-op Listed for More than $1.1 Million, First Co-op Listing to Break $1 Million Mark in Neighborhood

A 3.5-bedroom apartment in The Oxford, a co-op building located on 43rd Avenue in Sunnyside, has been listed for $1.145 million (Photo: Courtesy of Welcome Home Real Estate)

Aug. 8, 2022 By Christian Murray

Houses in Sunnyside Gardens are not the only residential listings in the neighborhood going for more than $1 million.

In what local real estate agents believe is a first, a co-op in Sunnyside has just been put on the market for more than $1 million.

The co-op has been listed for $1.145 million and is a 3.5-bedroom unit on the top floor of The Oxford, a six-story building located on the corner of 41st Street and 43rd Avenue.

“This is the largest apartment on the market [in Sunnyside] as two apartments have been combined and gut renovated from top to bottom,” said Bonnie Milcarek, an associate broker with Welcome Home Real Estate who listed the apartment.

Milcarek said the apartment is over 1,500 square feet, larger than many 2-family houses in Sunnyside Gardens. “It’s a special unit. It feels like a Brooklyn loft when you walk inside.”

The highest listing prices for co-ops in Sunnyside until now have fetched in the mid $700,000 range, Milcarek said.

A 2-bedroom, 1,124 square foot unit in Sunnyside Towers, located at 46-01 39th Ave., was recently listed for $739,000 and has just gone into contract. A large co-op at 45-08 40th St. sold for $748,000 earlier this year, she said.

Milcarek said the attraction of the co-op at The Oxford is its size and that it’s on the top floor with great lighting. She said that three-bedroom co-ops—let alone 3.5 bedrooms—are a rare find in Sunnyside.

The Oxford, she said, has a live-in super and porter, laundry room, bike storage, storage lockers for rent and a common courtyard. There is no flip tax, and sublets are permitted after 2 years of occupancy.

The maintenance for the apartment is $1,517 per month, which includes heat, water and gas.

To see listing, click here

Two co-ops have been combined into one 3.5-bedroom unit (Photo courtesy of Welcome Home Real Estate)

One of the bedrooms in the 3.5-bedroom co-op (Photo courtesy of Welcome Home Real Estate)

This 3.5-bedroom co-op has just been listed for $1.145 million (Photo courtesy of Welcome Home Real Estate)

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Mundek

Without above/below, developers and building owners a. sit on old delapidated properties decades after paying the off while earning a profit with no intention to modernize or even properly maintain them unless something breaks b. build new buildings and no longer even have a need to fill them with owners or tenants because sitting on a raw building or finished building somehow allows it to appreciate or earn a profit flipping them. Just look at all the high rises and other properties popping up around the city, and note who is buying them – foreign firms, foreing nations.

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Mundek

Cant wait for the housing bubble in this country to finally pop one day. None of these properties are worth even a quarter of what the bid/offers indicate.

Houses, residential and commercial buildings should depreciate just like all other liabilities (they are not an asset, only the land they stand on can be if outside of tornado, hurricane, flood or drought ridden areas). Any house or apartment building constructed 20, 30, 50, 100+ years ago is a. inherently energy inefficient b. has old wiring, plumbing c. is usually cheaper to demolish and replace with new even econo-box construction than to try and salavage and live in.

Old buildings in NY should have an expiry date and be slated for demolition in say 80-100 years from completion unless declared a landmark. No exceptions.

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MRLIC

This must nake RICH developers
so Happy. Real people who need a affordable placr to live SAD !!!!!!

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